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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 15,272 $ 10,717
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,523 21,996
Amortization of (below) above market lease intangibles, net (2,402) (1,751)
Amortization of debt issuance costs 343 344
Amortization of discount on notes payable (16) 1
Equity based compensation expense 3,570 2,579
Straight-line rent (1,672) (2,067)
Change in working capital components:    
Rents and other receivables 300 396
Deferred leasing costs (1,820) (1,413)
Other assets 170 533
Accounts payable, accrued expenses and other liabilities 5,437 3,936
Tenant security deposits 988 753
Prepaid rents (1,200) 160
Net cash provided by operating activities 46,493 36,184
Payments to Acquire Commercial Real Estate 46,503 145,253
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (15,607) (9,712)
Payments for deposits on real estate acquisitions (1,028) (10,475)
Net cash used in investing activities (63,138) (165,440)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock, net 79,431 244,420
Repayment of notes payable (50) (38)
Debt issuance costs (2,225) 0
Dividends paid to preferred stockholders (3,636) (2,423)
Dividends paid to common stockholders (21,052) (15,490)
Distributions paid to common unitholders (572) (448)
Distributions paid to preferred unitholders (423) 0
Repurchase of common shares to satisfy employee tax withholding requirements (1,207) (791)
Net cash provided by financing activities 50,266 225,230
Increase in cash, cash equivalents and restricted cash 33,621 95,974
Cash, cash equivalents and restricted cash, beginning of period 78,857 180,601
Cash, cash equivalents and restricted cash, end of period 112,478 276,575
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $882 and $629 for the three months ended March 31, 2020 and 2019, respectively) 8,685 6,940
Supplemental disclosure of noncash transactions:    
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842 on January 1, 2019 0 3,262
Operating lease right-of-use assets obtained in exchange for lease liabilities subsequent to adoption of ASC 842 1,014 3,457
Noncash or Part Noncash Acquisition, Debt Assumed 45,833 0
Accrual for capital expenditures 7,239 5,481
Accrual of dividends 25,931 19,774
Operating Partnership Units    
Supplemental disclosure of noncash transactions:    
Issuance of 4.0% cumulative redeemable convertible preferred units in connection with acquisition of real estate 63,277  
Series 2 CPOP Units [Member]    
Supplemental disclosure of noncash transactions:    
Issuance of 4.0% cumulative redeemable convertible preferred units in connection with acquisition of real estate $ 40,787 $ 0